MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Down – Should You Sell?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $238.05, but opened at $207.69. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $201.02, with a volume of 586,191 shares.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 13.5%

The company has a market cap of $1.75 billion, a price-to-earnings ratio of 21.92 and a beta of 2.02. The firm has a 50-day moving average price of $353.77 and a 200 day moving average price of $251.78.

Hedge Funds Weigh In On MicroSectors Gold Miners 3x Leveraged ETN

An institutional investor recently bought a new position in MicroSectors Gold Miners 3x Leveraged ETN stock. Jump Financial LLC bought a new position in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,597 shares of the company’s stock, valued at approximately $5,019,000. Jump Financial LLC owned 0.24% of MicroSectors Gold Miners 3x Leveraged ETN as of its most recent filing with the Securities and Exchange Commission (SEC).

MicroSectors Gold Miners 3x Leveraged ETN Company Profile

The MicroSectors Gold Miners 3X Leveraged ETN (GDXU) is an exchange-traded fund that is based on the S-Network MicroSectors Gold Miners index. The fund provides 3x daily leveraged exposure to a market-cap weighted index comprised of two gold miners ETFs. GDXU was launched on Dec 7, 2020 and is issued by REX Microsectors.